LANHAM, Md. (CBSDC) — In a time where the U.S. is slowly coming out of the recession, D.C. is thriving.
One of the major reasons the District is prospering, is due to its growing number of citizens, says Mayor Vincent Gray in his weekly radio address exclusive to All-News 99.1 WNEW.
With more than 1,000 people becoming residents of the District per month, Gray attributes D.C.’s economic strength to real estate and income taxes.
D.C. has seen an additional $86 million in revenue over previous predictions this year.
“These increases are not tied, as some might believe, to fees from automated traffic enforcement or tax increases,” Gray says.
Gray reduced fines and increased speed limit thresholds several months ago after strong criticism on a report that said the District made more than $40 million over the course of a few months.
Gray also outlined his goal for the future of D.C.’s economy, pointing to an investment in new industries.
“We’re working hard to encourage growth of new industries in our city, such as the technology sector, so that we’re less dependent on the ebb and flow of federal spending.”